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ThoughtRiver secures further investment

ThoughtRiver has received a new investment from Ascential’s chief executive Duncan Painter, who has been appointed to the Advisory Board.

Ascential (formerly Top Right Group) is a B2B media company which owns magazines including Retail Week, Construction News and Nursing Times. Painter has been CEO since 2011, and was previously managing director of Sky. The new funding follows investment in April from Taylor Vinters, of which ThoughtRiver founder and CEO Tim Pullan is still a partner and counts Top Right Group among his clients. A further funding round will happen in mid-Autumn.

ThoughtRiver’s CEO, Tim Pullan commented “Duncan’s investment is great because he has really relevant experience and a great track record when it comes to generating value.”

ThoughtRiver’s contract intelligence software applies a contract risk evaluation tool that scans and interprets information from written contracts used in commercial risk assessments and produces visualisations of the potential
risks and other issues. These can include the governing law and jurisdiction, which will appear on a dashboard, with the risk determined by a company’s own risk appetite in different areas, allowing it to apportion resource more accurately.

ThoughtRiver will launch a NDA-only automated review service from the end of September. ThoughtRiver was recently recognised by the FT Innovation Awards as a result of its work with global media group Dentsu Aegis Network.